LANSING – The state of Michigan has approved a $209 million tax break over 30 years for Ford Motor Co.’s redevelopment of the long-vacant Michigan Central Station in Detroit’s Corktown neighborhood.
State officials said the creation of the Michigan Strategic Fund Designated Renaissance Zone will lead to a total private investment of $740 million and the creation of 2,500 Ford jobs and another 2,500 jobs with Ford’s partners and suppliers.
Ford plans a development center for autonomous and electric vehicles at the station, as well as a center for the design of future urban mobility products and services.
Overall, state aid was approved by the Michigan Strategic Fund for more than $1 billion in private investment and the creation of 4,574 direct jobs, the Michigan Economic Development Corp. announced.
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